In finance, we all know there's only one constant: change. It's how we adapt to these changes that determines our success, which is why flexibility is key for staying ahead.

In this edition of The Finance Fix, we're diving deep into the art of flexibility. From fine-tuning scenario planning to embracing new perspectives, these tips are all about making sure we can pivot effortlessly, no matter what comes our way.

Happy planning,
Christina

How to boost flexibility:

Expert strategies for staying ahead of the game

Ben Cohn

Manager of FP&A at Loadsmart

"For any FP&A and finance leaders aiming to stay ahead in today's fast-changing world of business, leveraging tools that offer flexibility is key. At the beginning of 2023, we began a strategic realignment of our business unit reporting to better focus on our core objectives and enhance visibility for both leadership and the broader company.

With Cube, we quickly introduced new Tags and Formulas based on our existing data, creating repeatable and robust reports in our revised structure without the need to alter our ERP system. This flexibility was crucial during a quick pivot to allow us to respond to the needs of the business."

Julia Coto

CFO at ChartSpan Medical Technologies

"Unforeseen events are a given, whether it's a personal matter or a last-minute request from a board member. Building in a buffer for your internal deadlines can give you the extra time needed to handle these surprises without missing your overall timelines.

Early on in my career, I received a piece of advice that's stuck with me: Under-promise and over-deliver. Overcommitting without allowing some leeway for you and your team often leads to trouble."

Dustin Walsted

VP of Finance, Technology, Strategy, and HR at Smart City Apartment Locating

"Honestly the best advice I can give people about staying flexible is to automate whenever possible.

Manually creating 'what if' files is time wasted on data management that could be better serviced evaluating and having critical, important conversations that drive the business forward."

Christina Ross

3x CFO turned CEO of Cube

"While we often use scenario planning to prepare for future possibilities, the key to staying ahead is to dive deeper and explore a wider range of scenarios than usual.

This approach makes it easier to thoroughly understand the potential impacts of various outcomes on your financial strategy. By pushing the boundaries of scenario planning, you can make sure you're prepared for even the most unexpected developments."

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Essential reads: How to remain agile in the face of change

1. Scenario planning: Strategies for moving beyond the basics

Scenario planning prepares you to tackle any future uncertainties head-on by planning for various outcomes. This blog post is packed with practical tips and best practices to simplify the scenario planning process, making it a great read for anyone looking to enhance their strategic flexibility.